United Kingdom: Market for Pen Or Pencil Sets 2024

Market Size for Pen Or Pencil Sets in the UK

The UK pen or pencil sets market declined to $X in 2022, reducing by -7.8% against the previous year. Overall, consumption saw a deep downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Pen Or Pencil Sets in the UK

In value terms, pen or pencil sets production declined sharply to $X in 2022 estimated in export price. Overall, production saw a deep reduction. The pace of growth appeared the most rapid in 2021 when the production volume increased by 139%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Pen Or Pencil Sets

Exports from the UK

Pen or pencil sets exports from the UK declined to X units in 2022, with a decrease of -13.5% against the previous year's figure. Over the period under review, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2016 with an increase of 99%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, pen or pencil sets exports declined notably to $X in 2022. Overall, exports continue to indicate a abrupt slump. The growth pace was the most rapid in 2021 with an increase of 21%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ireland (X units) was the main destination for pen or pencil sets exports from the UK, accounting for a 34% share of total exports. Moreover, pen or pencil sets exports to Ireland exceeded the volume sent to the second major destination, Nigeria (X units), threefold. The United States (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ireland totaled -11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (-1.3% per year) and the United States (-4.7% per year).

In value terms, the largest markets for pen or pencil sets exported from the UK were Ireland ($X), the United States ($X) and France ($X), with a combined 56% share of total exports. These countries were followed by Nigeria, the United Arab Emirates, Sweden, Spain, the Netherlands, Iceland, Gambia, Gibraltar and Germany, which together accounted for a further 27%.

Iceland, with a CAGR of +32.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average pen or pencil sets export price amounted to $X per unit, with a decrease of -11.4% against the previous year. Overall, the export price saw a slight decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by 65% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Gambia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pen Or Pencil Sets

Imports into the UK

In 2022, supplies from abroad of pen or pencil sets decreased by -5.4% to X units, falling for the second year in a row after two years of growth. Overall, imports recorded a perceptible decline. The pace of growth was the most pronounced in 2020 when imports increased by 32%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, pen or pencil sets imports totaled $X in 2022. Over the period under review, imports showed a noticeable decline. The growth pace was the most rapid in 2014 with an increase of 16%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main supplier of pen or pencil sets to the UK, with a 94% share of total imports. It was followed by Germany (X units), with a 0.9% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -4.0%.

In value terms, China ($X) constituted the largest supplier of pen or pencil sets to the UK, comprising 85% of total imports. The second position in the ranking was held by Germany ($X), with a 2.4% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at -2.0%.

Import Prices by Country

In 2022, the average pen or pencil sets import price amounted to $X per unit, with an increase of 6.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2015 an increase of 45%. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.2%).

Source: IndexBox Platform

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